Metaplanet raised over 500 million dollars on the first day of the '555 Million Plan'.

Metaplanet, a Japanese investment company, is boldly shifting its focus to Bitcoin, successfully raising over 517 million USD on the first day of the '555 Million Plan.' This demonstrates strong initial momentum behind one of the largest cryptocurrency fundraisings in Asia.

According to the company's profile published on Wednesday, this capital amount has been secured through the issuance of 54 million new shares, after the EVO fund exercised a portion of its stock purchase rights.

Metaplanet aims to raise up to 5.4 billion USD through the 555 Million Plan, with the goal of buying 210,000 Bitcoin by the end of 2027, equivalent to about 1% of the current total supply.

Metaplanet raised 517.8 million USD in the first issuance of the 555 Million Plan

Within this effort, the stocks have been issued at a price of 1,388 yen per share, equivalent to about 9.59 USD, raising approximately 74.9 billion yen, or 517.8 million USD. This issuance accounts for about 10% of the total of 555 million shares that the company plans to issue.

This initial fundraising round comes after Metaplanet's recent board of directors approved a plan to commit up to 5 billion USD to its US subsidiary. The unit, Metaplanet Treasury Corp, is based in Florida.

In the future, the branch in the US will be responsible for managing the purchase of Bitcoin and treasury transactions. At the same time, the company will also leverage deeper capital markets and organizational infrastructure in the US to support its global strategy.

If implemented fully, the plan will place Metaplanet on the list of the world's largest Bitcoin holding companies

Metaplanet is pursuing a strategy similar to Strategy, a US-based company that has acquired over 1% of the total supply of Bitcoin through stock offerings. Currently, Metaplanet aims to successfully replicate this method in the Asia-Pacific region, hoping to establish its position as a leader in the digital asset space in the capital markets of Japan.

According to the company, 96% of the funds raised will be allocated to buying Bitcoin, while the remaining portion will be used for bond repayment and profit-generating strategies. After the issuance on Monday, the total circulating shares of Metaplanet have increased to over 654 million.

If the 555 Million Plan is fully implemented, it could turn Metaplanet into one of the largest Bitcoin holding companies globally, significantly impacting the rapidly growing digital asset economy.

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